What My $292k Income ACTUALLY Looks Like In NYC (Software Engineer)

kinda crazy he only has $6.5k cash ngl

in NYC that’s like not even a full month of expenses for him. especially working in tech where layoffs can happen fast, feels a bit risky to have everything tied up in 401k/stocks/property

he’s obviously doing really well overall but idk i’d personally want at least a few months of cash just for peace of mind

NYC taxes hit different, but this is where strategy matters more than people think.

Between 401k, HSA, and how RSUs are handled, there’s a big difference between what you earn vs what actually gets optimized.

Most people see the tax number… but miss the system behind it.

its crazy you can make 21,000 a month in this economy and be sorta middle class

tax tax tax

If I was him I'd move to Florida or something. Because him job can be remote and these taxes are crazy

The utility bills of $200/month in NYC look really low for winter or summer.

i have a friend who works in Riddle the american football helmet company (IT) and he owns a house in Dallas, Tesla X, Tesala Y, Lexus 360 and he even flies his dog out to india during vaccation, how is that possible ? is he making money illegally ? i have ferw more frds in usa but they dont have this life stlye

What a load of bull. What type of software are you engineering to be on 292k? 😂😂

45% tax is rip off we make pocket change comperd to u about 12-15k euros per year in east europe but dat tax is pure slavery

Investments are not expenses. Wtf is this categorisation..

bro you are getting robbed every month

Have a friend that I currently work with that’s well over six figures. When he was working in the D.C. area he was getting taxed like crazy. Rent alone was costing him over 3,000 a month. He managed to get transferred down here in Florida with his same salary and dude is balling now, lol. It’s crazy the amount of taxes government can take.

@NumeralMedia Please right align the numbers in the spreadsheet. It makes it easier to read.

wtf... all that for a 1 bed apartment. This goes to show we are so rich but yet so poor. Whats the difference between him and someone who is doing okay in a country like Morocco on a $1500 salary a month. Not worth it.

Where are health insurance and other insurance costs?

Hello from China, very medium level tech job. My take home pay is half of yours, BUT I can afford 4 bedroom luxury apartment (500usd), unlimited restaurants and unlimited Uber and....I still won't spend HALF of my salary. You guys in US must keep voting red and get rid of all the democrats fraud and abuse because your taxes are super high.

Wait until you get married

omg, what a boring matrix life

Your everyday man funding the wars with half their hardworking income

He’s able to buy a rental company, invest, live comfortably and you guys are complaining about taxes??

harbor from valorant ?

NO WONDER YOU SAY YOU PREFER TO INVEST IN STOCKS YOUR BREAKING EVEN!!! YOU GOTTA BUY RIGHT IN REAL ESTATE AND ACTUALLY CASH FLOW.

Great advice to never give up. Seems like a humble dude

there is no way he is going to retire in 10 to 15 years and travel the world with these numbers.

as an italian citizen (or any other european country), the taxes are actually much lower than most european countries. Also, the salary as software engineer are not comparable to italian salaries. Most you can get for a senior role is 60k euro before taxes, after taxes roughly 33k left. Managers already get 60-90k. More than that is very very rare. After taxes is left much little. Such salary discrepancy for the same role

When a leftist barista barks progressive taxation to ''tax the rich'', thats who they actually want to tax. Doctors, engineers, pilots, saturation divers, subsea welders etc etc. Go figure.

I'm almost 42, i live in PL, 8 years as sofrware engineer in one of the largest tech companies in the world. My take home income is 1/4 of what You earn. I'm asking each year for a raise (20-30%) to meet the avarage in my country and constantly i hear "no". Instead they cranked up the requirements and this year they took my parking spot awya from me and thow us out from the office (since we work remotly most of the time anyway). The HQ got a bit scared so they visited us with a guys from India. They gave us two employees from India to silently take over if we decide to change the company. Probably they are preparing to replace us with cheaper labor leaving just 1-2 employees on our side to desing and keep control over the projects.

4x more income in compare to Czech Republic (same IT position), less taxes on income in total (we have 50%-55%), spending 2x more on the rent but everything else is equal ... well tell me about life equality....

Crazy numbers in the US compared to Germany. For sure rent is way cheaper here (even in Munich you can find a small flat for 1.200€). But you earn way less pre tax and pay more tax. And also there is no 401k - you just use your own portfolio, but have to pay tax 26% on capital gains all the time.

I know a few people making more than 100k€ per year - and they are already really well off.

I m at 78k pre tax, got like 3.8k net income. Also planning to retire between 40 and 45. Currently I'm close to being 36 and I am still on track. But boy, these numbers are crazy to me.

Meanwhile sofware engineer in sweden has around 3500-4000 usd a month after taxes.
So after expenses you are looking around 300-800 usd to invest or have fun with.

Don't ever think you guys are taxed high..

That's a wild salary for just doing IT stuff. Congratulations.

can you do a German one and comapre them

The government is a tyrannical liberal Cartel

His effective tax percentage is significantly higher than what I pay in Norway - a full welfare state with free universal healthcare and higher education! Crazy.

I don´t want to hear from any American, complaining about socialist Europe. With $300k yearly income, taking only $150k? If I compare it to Germany, you would take bit more with full health insurace (including premium insurace), social security and and pension contribution. Crazy how US people get ripped and beeing told that they would be worse in Europe...

my salary in my country is $8k a year FOR A FUCKING YEAAAAR

The more I learn about the US, the more it look like complete shithole.

Tax tax tax tax tax tax tax tax tax tax tax tax tax faaaaaaaaaaaaaarout man

Taxation is robbery

Decent money. Bottom middle class guy.

that total savings figure is what he saves a year or thats how much he has saved until now?

That is 39+% tax. What do you get for this? (higher than socialist Norway)